In China, the invoice — or fapiao (发票) — is an essential component of the State Administration of Taxation (SAT). In accordance with the Administrative Measures of the People's Republic of China for Invoices (revised in 2010), invoices refer to the certificate of payment or receipt of money made or received in purchases and sales…
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The Standing Committee of the National People’s Congress revised the Individual Income Tax Law of the People’s Republic of China (IIT). The revisions came partly into effect in October 2018 predominantly affecting tax rates and general standard deductions for general income (please see previous tax-related articles). From 1 January 2019, the revised IIT law…
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CCG in Suzhou. Recently, Horizons hosted members of the China Collaborative Group (CCG) in Shanghai for a four-day workshop focused on Chinese corporate law and tax law knowledge. The programme was the second round of training for CCG members to learn the ins-and-outs of Chinese corporate legal and tax matters, as well as gain some…
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